Shares of the maker of Tide detergent and Charmin toilet paper gained more than 2 percent before the market open on Tuesday.

P&G has been working on transforming its business to better focus on bigger brands with growth potential. The company has already shed some of the smaller brands it says collectively contribute little to its operating profit.

Chairman, President and CEO David Taylor said in a written statement Tuesday that the company is "now focusing all our efforts on 10 large, structurally attractive categories where P&G holds leading positions."

P&G, the world's largest consumer products maker, earned $2.71 billion, or 96 cents per share, for the period ended Sept. 30. A year ago the Cincinnati-based company earned $2.6 billion, or 91 cents per share.

Earnings, adjusted to account for discontinued operations and restructuring costs, were $1.03 per share. That topped the 98 cents per share that analysts surveyed by Zacks Investment Research expected.